Financial Results for the Quarter and Half year ended on September 30, 2025
Awaiting price reaction for this filing.
C & C Constructions, which was admitted to insolvency in 2019 and ordered into liquidation by NCLT in October 2022, was acquired as a going concern by M/s R K Constructions on December 27, 2024 for Rs 104 crores. The new management has filed unaudited results for Q2/H1 FY26 based on preliminary data from the Liquidator, as the formal closure of IBC proceedings is still pending. The auditor (ASG & Associates) issued an unqualified opinion but included an Emphasis of Matter citing uncertainties from the IBC liquidation, limited access to historical records, and pending NCLT reliefs. The board also appointed Davinder Kaushik (age 27, CA) as new CFO and incorporated a new wholly-owned subsidiary, Ceigall Integrated Energy Limited (CIEL), in the electric power space with Rs 1 lakh capital. The company has disclosed related-party loans of Rs 500 million to Ceigall Infra Projects at 9.5% interest and faces legacy tax/EPF notices totaling Rs 0.96 crore.
The stock remains a high-risk, distressed play — the fundamentals are not yet meaningful because results are inherited from the Liquidator and depend on NCLT outcomes. The new management's related-party lending to Ceigall group entities and investment in a new power subsidiary signal an attempted revival, but shareholders should treat the numbers with caution until clean audit and NCLT clarity emerge.